Capitalizing on the Nexus of IoT and Home Healthcare

The healthcare industry faces many challenges that are contributing to rising demand for healthcare services and increases in associated costs. Healthcare providers and patients are looking for cheaper, more cost-effective solutions. Technology can solve these issues by enhancing the quality and cost-effectiveness of patient care and support and moving healthcare services from the hospital to the home. The proliferation of smart home technologies has supported this transition by engaging consumers with easily accessible real-time information through web portals and mobile apps.

Yet, these connected devices and applications are only the first step along a spectrum of the more advanced healthcare services technology can enable. This spectrum of home healthcare is ripe with opportunity for stakeholders—from technology startups to service providers to large tech incumbents—to engage consumers, explore new business models, and create new revenue streams in the home. The nexus of Internet of Things (IoT) and health ultimately puts power in the hands of consumers and enables self-care, which is revolutionizing the healthcare industry and contributing to the emergence of healthcare as a value proposition for the smart home.

This Navigant Research report examines the emerging digital health industry, with a focus on how IoT is disrupting healthcare and moving it to the home. The study discusses how the convergence of smart home value propositions provides new opportunities for stakeholders to introduce innovative digital health solutions to bring efficiencies and enhancements to a traditional market. It also provides recommendations on how players in the smart home and health industries can address the smart home lifestyle and seize digital health market opportunity while there is momentum.

Key Questions Addressed:

What are digital health solutions?

What role does the smart home play in healthcare?

What are the market drivers and barriers for digital health solutions?

What types of companies are involved in the nexus of Internet of Things (IoT) and health?

What examples exist of players engaged in IoT for home healthcare?

What are the key best practices for companies involved in smart home and digital health solutions?

Who needs this report?

Healthcare providers

Internet of Things (IoT) platform providers

Energy suppliers

Connected device manufacturers

Home automation providers

Home security providers

Web portal and app software providers

Investor community

Table of Contents

Spark

Context

Recommendations

IoT Is Disrupting Healthcare and Moving It to the Home

Health Provides a Convincing Story for Smart Home Solutions

Home Healthcare Is Not Just About Health Tech

Ultimately, We Still Need Traditional Healthcare

Smart Home Value Propositions Are Converging

New Opportunities at the Nexus of Health and IoT

Players from Unexpected Industries Are Entering the Smart Home and Increasing Competition